Skopos Labs Inc. Takes $1.03 Million Position in Wells Fargo & Company (NYSE:WFC)

Skopos Labs Inc. acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 20,949 shares of the financial services provider’s stock, valued at approximately $1,031,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $2,623,044,000. LSV Asset Management increased its position in shares of Wells Fargo & Company by 40.4% during the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after purchasing an additional 2,677,050 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. Artemis Investment Management LLP increased its position in shares of Wells Fargo & Company by 87.8% during the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock worth $163,160,000 after purchasing an additional 1,549,979 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $54,894,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $0.53 on Friday, reaching $60.21. 9,270,821 shares of the company’s stock traded hands, compared to its average volume of 18,429,246. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a market cap of $209.91 billion, a PE ratio of 12.51, a PEG ratio of 1.60 and a beta of 1.18. The stock’s 50 day simple moving average is $58.98 and its two-hundred day simple moving average is $52.26. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period last year, the business posted $1.23 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WFC. Compass Point reiterated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Citigroup reissued a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Evercore ISI upped their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Morgan Stanley increased their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.